§ 45-14. Refund of contributions.

Any member of the police force who, for any reason, shall be ineligible to receive a pension hereunder after having contributed to the Police Pension Fund created hereby shall be entitled to a refund for all such moneys paid by him into said fund immediately upon discontinuance of his employment with the police force, plus interest on said moneys payable at the rate of 4% per annum compounded annually at the end of each calendar year. If such discontinuance is due to death, the refund shall be paid to his designated beneficiary or to his estate to the extent that it has not been paid to his family under § 45-9 above. The existing private pension fund for the benefit of members of the police force of the Township may be continued; however, no Township fund or funds received from said Treasurer as aforesaid shall be paid to such private fund, and no police officer shall be required to make any contributions toward this fund.

Amended 4-10-1972 by Ord. No. 184; 8-11-1976 by Ord. No. 244